When should I file for Divorce if I am considering Bankruptcy?
If you and your spouse are contemplating divorce and bankruptcy, you may want to finalize the divorce first. It may be more beneficial especially if there is a lot of marital property that must be settled.
Many times, part of the divorce settlement will include one spouse completely assuming the entire debt where it once was shared jointly. For example, many times a spouse will agree to become solely responsible for making the mortgage payments and allow his or her ex-spouse and family to remain in the home.
However, if there is no marital property, it may be in your best interest to go ahead and file your personal bankruptcy first. This is especially true if there are pending lawsuits or garnishments against you.
You should contact an experienced bankruptcy attorney before making such a decision.
If you have questions about Florida Divorces or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
